FTX and star backers including Brady, Curry sued by investor
BNN Bloomberg
FTX and former CEO Sam Bankman-Fried were sued by an investor over claims that the cryptocurrency exchange now in crisis targeted “unsophisticated investors” using celebrity endorsers including Tom Brady and Stephen Curry, who are also named as defendants.
In a complaint filed Tuesday in federal court in Miami, Oklahoma resident Edwin Garrison is asking to represent a class of “thousands, if not millions, of consumers nationwide.” That includes all investors in the US who were enrolled in yield-bearing FTX crypto accounts, which he alleges constitute unregistered securities in violation of US and Florida laws.
Garrison claims FTX used celebrities including Curry, Brady, Gisele Bundchen and Shaquille O’Neal to promote the exchange’s unregistered securities and funnel investors into a Ponzi scheme. Football star Brady and his then-wife Bundchen filmed a commercial called “FTX. You In?” that showed them encouraging acquaintances to join the platform, according to the complaint.
Representatives of Brady and Bundchen didn’t immediately respond to emails seeking comment on the suit.
